Harvest Fund Management Co. Ltd Increases Stake in Celestica Inc. (NYSE:CLS)

Harvest Fund Management Co. Ltd increased its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 3,195.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,241 shares of the technology company’s stock after purchasing an additional 33,202 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Celestica were worth $3,159,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Peregrine Capital Management LLC purchased a new position in shares of Celestica during the fourth quarter valued at $30,000. Private Trust Co. NA increased its stake in shares of Celestica by 480.0% during the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after buying an additional 720 shares during the period. R Squared Ltd purchased a new position in shares of Celestica during the fourth quarter valued at $51,000. IFP Advisors Inc increased its stake in shares of Celestica by 122.7% during the fourth quarter. IFP Advisors Inc now owns 668 shares of the technology company’s stock valued at $62,000 after buying an additional 368 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of Celestica by 43.6% during the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analysts Set New Price Targets

CLS has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, January 31st. CIBC upgraded Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Cibc World Mkts upgraded Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. initiated coverage on Celestica in a research note on Friday, February 21st. They issued an “overweight” rating and a $166.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 19th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.83.

Insider Activity at Celestica

In related news, CEO Robert Mionis sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the sale, the chief executive officer now owns 456,417 shares in the company, valued at $64,487,157.93. This represents a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Wilson sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares in the company, valued at approximately $176,134.32. This represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 over the last quarter. Insiders own 1.00% of the company’s stock.

Celestica Price Performance

Shares of CLS stock opened at $87.53 on Wednesday. Celestica Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $144.27. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.40 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The stock’s 50-day simple moving average is $110.24 and its 200-day simple moving average is $85.74.

Celestica Company Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.